2023 is showing green shoots – Happy New Year!

Happy New Year! And the good news is 2023 is starting to show some green shoots, following the pain of 2022.

The Australian share market has had a great start to 2023 with our market hitting a fresh 8 month high this week. The All Ordinaries is around 3% away from its record high, which it reached in 2021.

Signs of cooling inflation and positive earnings data from major US banks lifted Wall Street on Friday, with the US S&P 500 up 4% so far this year, following a dismal 2022.

One of the factors giving the market confidence is the re-opening of China from its strict Covid restrictions, and people in China resuming travel ahead of the Lunar New Year. Air passenger volumes in China have recovered to 63% of 2019 levels since the annual travel season began.

For more on what to expect in 2023, have a listen to my interview from Monday night's Money News with Diana Mousina, AMP Capital Senior Economist.

I am back in the Money News host chair from 7pm each night Monday to Thursday right across the Nine Radio network. It's always a honour to have the opportunity to host, so tune in or get the podcast and listen when suits you!